Ernest Rudyak’s latest post
While everything seems to always seem great and sunny in California, the one thing California has lacked is better public transportation. While many residents of the state may want or think they need a subway, that’s not quite what they are getting. What will break ground on Tuesday January 6th is California’s bullet train. The train is supposed to run from Los Angeles to the Bay Area.
After 2 years of debate and debacle, California is finally ready to start this project. The California High-Speed Rail Authority won many court battles and had many legislative victories which helps fund the project. It has been a long road to this point, so long that this project was actually first spoken of in the late 1970′s during Governor Jerry Brown’s first term.
The project will begin in Fresno where they will begin the first 29 miles of the track. This project is projected to cost about $68 billion. With so much opposition to the project, it raises doubt that the project can in fact be completed. Democrats were all for the project and believed Tuesday was the validation to their vision whereas Republicans believe the state is digging deeper into a costly project that likely won’t ever be completed.
Where is all this money coming from? Well as of now, some of it is coming from the following:
-$9 billion: Voters approved a $9 billion bond measure for the project in 2008
-$3.2 billion: Obama administration grant
-$250-$1 billion (annually): Legislatures agreed to provide 25% of greenhouse gas or cap and trade fees
The above amount only equates to about half of the budget. With the project set for completion in 2028, they’ll have time to figure out where the rest of the money will come from. For more on this article, check it out here.
from Ernest Rudyak | Construction & Company Projects http://ift.tt/1AAHMYI